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Institution
Data approved: 2012-07-24
Data version: 2
Age of data: - months
Description
A group of 10-25 neighbours co-guarantee each other. Members get training before receiving loans. Amounts range from 50,000 to 600,000 for first time & up to 6,000,000 for subsequent loans. Borrowers are insured against personal accident.
Any purpose Income generation x Mortgage/housing Consumer loan x Agriculture Education x Other household finance Other Other (2)
Credit education x Group meetings x Credit insurance x Workplace visits Business training Other training Other Other (2) No other services
Men x Women x Must run a business x Must own a home or land Must be a salaried worker Must be specific age group Other Other (2)
Portfolio Size by Product
Geographic Coverage
# Regions for this institution 4 # Regions for this product N/A Regions Active
Loan Conditions
Currency UGX Minimum loan size UGX 50,000 Maximum loan size 6,000,000
Loans less than UGX 1,000,000 40% UGX 1,000,000-5,000,000 30% UGX 5,000,000-7,500,000 30% UGX 7,500,000-10,000,000 0 UGX 10,000,000-13,000,000 0 Greater than UGX 13,000,000 0
Shortest loan term 4.0 months Longest loan term 8.0 months Approx average 5.0 months
Loans 3 months or less 0 Between 4 and 6 months 70% Between 7 and 9 months 30% Between 10 and 12 months 0 Between 13 and 18 months 0 Longer than 18 months 0
Daily Weekly x Every 2 weeks x Every 4 weeks Monthly x Every 2 months Quarterly Every 6 months Every 12 months Single end payment Irregular payments
Pricing Information
Interest
Lowest quoted nominal interest 39.00% Highest quoted nominal interest 39.00% Interest rate period Yearly Interest Rate Calculation Method Flat Subsidized by funder request? No Is rate fixed for entire loan term Yes
Upfront Fees Fee 1 Description Disbursement Fee % of loan amount - min 1.00% % of loan amount - max 2.00% OR, Fixed amount - min 0 Fixed amount - max 0 Reason for variation 1% for monthly, 2% for weekly & biweekly loans Appears on Repayment Sched? No
Ongoing Fees This product has no ongoing fees Upfront Insurance Fees This product has no upfront insurance fees Ongoing Insurance Fees This product has no ongoing insurance fees
Required for All Criteria N/A Is deposit indicated on the repayment schedule? No Do borrowers control deposit in their group? No
Deposit BEFORE or AT Disbursement
% loan amount deposited 10.00% or, Fixed-amount deposited 0
Deposits DURING period payments
% loan amount deposited 1.00% or, Fixed-amount deposited 0 Conditions on access to deposit Access During
Interest Paid on Deposit
Minimum interest rate paid 3.00% Maximum interest rate paid 3.00% Interest payment frequency Monthly
Taxes
Are taxes charged on this product? No
Additional Comments
The product depends on group solidality as the basic security
Full Pricing Data
FINCA Village Group Loan sample s
Sample 1Sample 2Sample 3Sample 4Sample 5Loan Amount UGX 300,000 UGX 700,000 UGX 1,200,000 UGX 3,000,000 UGX 6,000,000 Loan Cycle (1, 2, 3, etc)3 12 2 18 9 Disbursement Date 2012-08-22 2012-09-06 2012-04-04 2012-06-05 2012-07-24 Loan Term (Months) 5.8 months 3.7 months 5.9 months 7.0 months 5.6 months Grace Period (Months)0.7 months 0.5 months 0.9 months 0.5 months 0.5 months Total Cost of Credit UGX 71,574 UGX 112,215.36 UGX 282,612 UGX 480,923.04 UGX 1,382,769.24 True Price by Comp Interest price component 75.6% 77.5% 74.0% 41.1% 78.9% Fee Component 7.9% 12.2% 3.8% 6.5% 8.6% Insurance Component 0.0% 0.0% 0.0% 0.0% 0.0% Tax Component 0.0% 0.0% 0.0% 0.0% 0.0% Deposit Component 16.4% 18.5% 14.7% 10.5% 18.0% Full APR (int fee ins tax dep)99.9% 108.2% 92.5% 58.1% 105.5% Transparency Index 39 36 42 67 37 Original Repayment Schedule PDF PDF PDF PDF PDF MFT Pricing Calculation PDF PDF PDF PDF PDF
FINCA Village Group Loan Price Graphs
0 100 Pricing Transparency Index Regulated Inst. Not Regulated Inst. NBFI Institution Type Business Loan Purpose FINCA-UGA Institution UG-006-V02-P03 Product UG Country 2012 Year Range Number 2 Institution Data Version 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 Loan Size (all) 0% 50% 100% Full APR (int fee ins tax dep) > 14,000 10,000 7,100 3,500 300 Number of Borrowers
